(Barbados Nation) Government has been told that it must urgently put its economic house in order, following the latest downgrade of Barbados’ sovereign credit rating by Standard & Poor’s (S&P).
The advice has come from both president of the Barbados Economics Society (BES), Ryan Straughn, and chairman of the Barbados Private Sector Association (BPSA), John Williams.
Neither Straughn nor Williams seemed startled by S&P’s lowering this week of the island’s long-term foreign and local currency sovereign credit ratings from BBB- to BB+ and the short-term ratings from A-3 to B with a stable outlook.
The BES head said a message had been sent since last year for Government to deal with its fiscal challenges but he complained that “we still have done nothing”.
